Weekly Analysis of #EURUSD, Monday, September 10, 2023
In the weekly chart of #EURUSD, the price has broken out of the #ascending channel and crossed below the 50-day moving average. Consequently, the market structure appears bearish or corrective.
In the current week's trading, if selling pressure continues and the $1.07 rate is breached, the #EURUSD pair could initially move towards the minor support at $1.0635. If the #downward momentum persists, the next target for #EURUSD will be the support range of $1.0530 to $1.0481.
So based on this analysis I suggests a bearish or corrective outlook for EURUSD.